Humans logo

ATM Swap: What Nigerians Need to Know About Scary New Trend

Nigerians need to be extra careful

By Jide OkonjoPublished 5 months ago 3 min read

These are very desperate times for a lot of Nigerians. The economy is relentless, a lot of people don't have jobs, and as a result, people are finding creative ways to get money now. Some of these creative ways are legitimate and good, and then there are the other creative ways that are illegal and used by fraudsters. One of such new illegal and fraudulent ways people are using to steal money these days is through the use of what the EFCC is calling "ATM Swapping".

What is ATM Swapping, and why do you need to be extra careful when using the ATM these days? Well, let me tell you what the EFCC is saying.

**Before reading on, please make sure to sign up for my newsletter below so you don't miss out on any new and interesting lists, articles, and stories that I post every single day. At the end of each week, I'll compile all the best stories from the week and send them right to your inbox, so you don't miss out on any of the hottest things that have happened throughout the week. Sign up now so you always get alerted!


According to EFCC Head of Media and Publicity, Mr Dele Oyewale, ATM swap is the new operation concocted by fraudsters whereby they keep a debit card of the same bank on them, and while trying to help someone like a confused customer at an ATM point, swap the cards quickly without the customer's knowledge. Because of how similar both cards look, sometimes victims don't realize until much later that their cards have been exchanged. According to Mr. Dele Oyewale:

MR OYEWALE: They swap the card in such a hurry that the customer would not notice and at the same time memorize the pin used in trying the fake cards. These cards get stuck in the machine due to a wrong pin and the fraudster quickly abandons the victim, advising him/her to report to the bank while making away with the victim’s card to make immediate withdrawals from the account. This card swapping typically happens in any service delivery point, such as Point of Sale (POS) terminals, and ATM points, among others.

How Can We Protect Ourselves Against ATM Swap?

The EFCC through Mr Dele Oyewale is listing out some ways we as Nigerians can protect ourselves against this ordeal. According to Mr. Oyewale, what we can do is:

MR. OYEWALE: Regularly check your bank statements for any unknown transaction, set transaction alerts to monitor any activity on your accounts or with your bank card are also vital in stopping the fraudsters. You could also cover the keypad with your hand or body when entering your PIN at POS terminal/ATM machines and never be in a rush to make payments or withdrawals and request for assistance only from officials of the bank.

Call your banks to block your ATM cards immediately your cards are stuck in the ATM machines or whenever you observe any irregularity. Ensure you know your bank’s ATM off line, blocking code and quickly make use of it whenever it is misplaced or stolen. Dial the USSD code *966*911# and follow the pop-up instructions to block your ATM card instantly

Na Wa! What do you think about this new ATM swapping trend? Let me know your thoughts by leaving a comment either below or on my Jide Okonjo Facebook post.

That's All.

Btw, in addition to blogging, I also make money through Whatsapp Status Sessions. If you also want to earn money through status sessions, I've created a complete guide to help you get started so we can all eat!

I hope you’ve had fun. Don’t forget to subscribe to my newsletter if you don’t already for more stories like this - collated every week and sent right to your inbox so you don't miss out on anything.


About the Creator

Jide Okonjo

I have ONE account and MANY interests. My page is a creative hodgepodge of:

🇳🇬 Nigerian news stories for my dedicated Nigerian readers.

🎥 Movie and music recommendations, listicles, and critiques

📀 Op-eds, editorial features, fiction

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights


There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.